DFINITY Foundation Voting Power

Summary

The DFINITY Foundation currently has 54MM ICP staked, giving it a relative voting power in the IC ecosystem of 22% as of March 30, 2022. This post goes into further detail.

Background

As publicly listed, at network Genesis, the DFINITY Foundation got assigned 23.6% of the 469MM supply, roughly 110.6MM ICP. The Foundation staked part of this ICP, resulting in a voting power around Genesis of 38%, since less ICP was staked then than today.

As expected, not everyone who has ICP has staked yet. We foresee many more people staking. So the DFINITY Foundation has been deliberately and carefully choosing how much ICP to stake as it did not want to have too much voting power.

Why the DFINITY Foundation stakes

We believe staking ICP is the right decision for a few reasons:

  • It signals to the community that the Foundation is betting long term on the ICP ecosystem
  • In the long term, the Foundation will use its rewards to finance its R&D for the network

That being said, the Foundation will be careful about not having too much voting power.

When it comes to determining an entity’s relative voting power, there are two main factors:

  1. The amount of tokens that an entity has and its neurons’ attributes such as dissolve delay and age.
  2. How an entity compares to the number of ICP staked and the respective neurons’ attributes

We will examine both in this piece with regards to the DFINITY Foundation.

Factor 1: Amount of tokens the Foundation’s neurons have

The DFINITY Foundation has the following neurons:

  • Neuron IDs:
    • Voting:
      • 27
      • 2000-2055, and 4018-4037
    • Non-voting:
      • 4012-4017 are dissolving with delay less than six months
    • Dissolved:
      • 4000-4011
  • Total ICP staked: 54 MM

Being practical, could the Foundation create more neurons? Yes, that is why we intend to have a dashboard which shows the community the latest data on the voting power of the Foundation.

Factor 2: Amount of ICP staked in the NNS

The second factor is trickier because it depends on the actions of others in the ecosystem. If not enough people stake or even vote, the Foundation could find itself accidentally having too much voting power overall, which could discourage other entities and leaders from participating. That is why the Foundation has not staked all the ICP it could have.

To be concrete:

Staked ICP Voting Power % of total
DFINITY 54,391,738 89,666,826 22%
Total 412,036,526 100%

As more people and entities are staking, the Foundation believes it can stake more of its ICP, locking it away for years. Whenever the Foundation increases the amount of ICP staked, we will communicate it.

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Appendix: Voting Power and Full List of Neurons on March 30, 2022

To help add visibility, here is an API for voting power and a list of DFINITY-controlled neurons.

Voting power API

Furthermore, the IC dashboard API also exposes a query to reveal the number of DFINITY voting power at any point:

https://ic-api.internetcomputer.org/api/v3/neuron-voting-powers?step=86400&owner=DFINITY

{ "DFINITY": [ [ 1648770600, 8966682569112760.0 ] ] }

Where 1648770600 is a timestamp and 8966682569112760.0 is the absolute voting power.

List of DFINITY neurons

Count Neuron Neuron details
1 27 https://dashboard.internetcomputer.org/neuron/27
2 2000 https://dashboard.internetcomputer.org/neuron/2000
3 2001 https://dashboard.internetcomputer.org/neuron/2001
4 2002 https://dashboard.internetcomputer.org/neuron/2002
5 2003 https://dashboard.internetcomputer.org/neuron/2003
6 2004 https://dashboard.internetcomputer.org/neuron/2004
7 2005 https://dashboard.internetcomputer.org/neuron/2005
8 2006 https://dashboard.internetcomputer.org/neuron/2006
9 2007 https://dashboard.internetcomputer.org/neuron/2007
10 2008 https://dashboard.internetcomputer.org/neuron/2008
11 2009 https://dashboard.internetcomputer.org/neuron/2009
12 2010 https://dashboard.internetcomputer.org/neuron/2010
13 2011 https://dashboard.internetcomputer.org/neuron/2011
14 2012 https://dashboard.internetcomputer.org/neuron/2012
15 2013 https://dashboard.internetcomputer.org/neuron/2013
16 2014 https://dashboard.internetcomputer.org/neuron/2014
17 2015 https://dashboard.internetcomputer.org/neuron/2015
18 2016 https://dashboard.internetcomputer.org/neuron/2016
19 2017 https://dashboard.internetcomputer.org/neuron/2017
20 2018 https://dashboard.internetcomputer.org/neuron/2018
21 2019 https://dashboard.internetcomputer.org/neuron/2019
22 2020 https://dashboard.internetcomputer.org/neuron/2020
23 2021 https://dashboard.internetcomputer.org/neuron/2021
24 2022 https://dashboard.internetcomputer.org/neuron/2022
25 2023 https://dashboard.internetcomputer.org/neuron/2023
26 2024 https://dashboard.internetcomputer.org/neuron/2024
27 2025 https://dashboard.internetcomputer.org/neuron/2025
28 2026 https://dashboard.internetcomputer.org/neuron/2026
29 2027 https://dashboard.internetcomputer.org/neuron/2027
30 2028 https://dashboard.internetcomputer.org/neuron/2028
31 2029 https://dashboard.internetcomputer.org/neuron/2029
32 2030 https://dashboard.internetcomputer.org/neuron/2030
33 2031 https://dashboard.internetcomputer.org/neuron/2031
34 2032 https://dashboard.internetcomputer.org/neuron/2032
35 2033 https://dashboard.internetcomputer.org/neuron/2033
36 2034 https://dashboard.internetcomputer.org/neuron/2034
37 2035 https://dashboard.internetcomputer.org/neuron/2035
38 2036 https://dashboard.internetcomputer.org/neuron/2036
39 2037 https://dashboard.internetcomputer.org/neuron/2037
40 2038 https://dashboard.internetcomputer.org/neuron/2038
41 2039 https://dashboard.internetcomputer.org/neuron/2039
42 2040 https://dashboard.internetcomputer.org/neuron/2040
43 2041 https://dashboard.internetcomputer.org/neuron/2041
44 2042 https://dashboard.internetcomputer.org/neuron/2042
45 2043 https://dashboard.internetcomputer.org/neuron/2043
46 2044 https://dashboard.internetcomputer.org/neuron/2044
47 2045 https://dashboard.internetcomputer.org/neuron/2045
48 2046 https://dashboard.internetcomputer.org/neuron/2046
49 2047 https://dashboard.internetcomputer.org/neuron/2047
50 2048 https://dashboard.internetcomputer.org/neuron/2048
51 2049 https://dashboard.internetcomputer.org/neuron/2049
52 2050 https://dashboard.internetcomputer.org/neuron/2050
53 2051 https://dashboard.internetcomputer.org/neuron/2051
54 2052 https://dashboard.internetcomputer.org/neuron/2052
55 2053 https://dashboard.internetcomputer.org/neuron/2053
56 2054 https://dashboard.internetcomputer.org/neuron/2054
57 2055 https://dashboard.internetcomputer.org/neuron/2055
58 4000 https://dashboard.internetcomputer.org/neuron/4000
59 4001 https://dashboard.internetcomputer.org/neuron/4001
60 4002 https://dashboard.internetcomputer.org/neuron/4002
61 4003 https://dashboard.internetcomputer.org/neuron/4003
62 4004 https://dashboard.internetcomputer.org/neuron/4004
63 4005 https://dashboard.internetcomputer.org/neuron/4005
64 4006 https://dashboard.internetcomputer.org/neuron/4006
65 4007 https://dashboard.internetcomputer.org/neuron/4007
66 4008 https://dashboard.internetcomputer.org/neuron/4008
67 4009 https://dashboard.internetcomputer.org/neuron/4009
68 4010 https://dashboard.internetcomputer.org/neuron/4010
69 4011 https://dashboard.internetcomputer.org/neuron/4011
70 4012 https://dashboard.internetcomputer.org/neuron/4012
71 4013 https://dashboard.internetcomputer.org/neuron/4013
72 4014 https://dashboard.internetcomputer.org/neuron/4014
73 4015 https://dashboard.internetcomputer.org/neuron/4015
74 4016 https://dashboard.internetcomputer.org/neuron/4016
75 4017 https://dashboard.internetcomputer.org/neuron/4017
76 4018 https://dashboard.internetcomputer.org/neuron/4018
77 4019 https://dashboard.internetcomputer.org/neuron/4019
78 4020 https://dashboard.internetcomputer.org/neuron/4020
79 4021 https://dashboard.internetcomputer.org/neuron/4021
80 4022 https://dashboard.internetcomputer.org/neuron/4022
81 4023 https://dashboard.internetcomputer.org/neuron/4023
82 4024 https://dashboard.internetcomputer.org/neuron/4024
83 4025 https://dashboard.internetcomputer.org/neuron/4025
84 4026 https://dashboard.internetcomputer.org/neuron/4026
85 4027 https://dashboard.internetcomputer.org/neuron/4027
86 4028 https://dashboard.internetcomputer.org/neuron/4028
87 4029 https://dashboard.internetcomputer.org/neuron/4029
88 4030 https://dashboard.internetcomputer.org/neuron/4030
89 4031 https://dashboard.internetcomputer.org/neuron/4031
90 4032 https://dashboard.internetcomputer.org/neuron/4032
91 4033 https://dashboard.internetcomputer.org/neuron/4033
92 4034 https://dashboard.internetcomputer.org/neuron/4034
93 4035 https://dashboard.internetcomputer.org/neuron/4035
94 4036 https://dashboard.internetcomputer.org/neuron/4036
95 4037 https://dashboard.internetcomputer.org/neuron/4037
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Relevant links with information on the state of staking and voting power in the ecosystem:

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This is really useful information thank you. Is it possible to add other named neurons to the neuron-voting-powers API call such as ICPMN and cycleDAO? I notice ICA is callable also.

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I think I know how hard you guys have been pushing to make this public and I’m so glad you did!

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No, it’s not possible to know effective voting power with followers, which is what you would want for community neurons like ICPMN and cycleDAO. The actual voting power of those two neurons is negligible (currently 20.28 and 25.38, respectively), so it’s not very interesting to track that.

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This is really helpful information @diegop. Thank you so much for providing this clarification.

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A moment of silence for the FUDders.

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@Dylan is correct that the staked ICP that is owned by the ICP Maximalist Network neuron and the cycledao.xyz neuron is only about 10 ICP each with voting power of approx. 20 ICP. This is similar to the Dfinity and ICA neurons 27 and 28, respectively.

However, it’s important to be transparent about the voting power that is cast from liquid democracy when ICPMN and cycledao vote. Since we are public known neurons, we have a lot of followers that cast their votes when we vote. In my observation from dashboard data, when ICPMN cast our votes on each of the last three governance proposals, approx 8.3% of total voting power was cast at the same time. In all three cases, the ICPMN and the cycledao neurons voted at exactly the same time. This suggests that the cycledao neuron is currently following the ICPMN neuron. In the early days of the daily governance proposals campaign, the cycledao neuron would sometimes vote before the ICPMN neuron. In those cases, it appeared that approx 4.5% of total voting power was cast when the cycledao neuron would vote.

It is often difficult to tell how much voting power is cast by followers of these public neurons. I think the best that could be done at this time is to expose the voting power cast for each proposal at the time each public neuron votes. This would be misleading when public neurons vote at the same time because they would both show up as equal. This would also produce different results depending on the order in which the public neurons vote because some followers have multiple public neuron Followees configured. Nevertheless, it would offer some transparency to the governance influence of public neurons and it would be nice if that information could be provided on the dashboard.

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I have a question: how Dfinity Foundation decide what governance proposal shall be voted or abstained? Is there a kind of principle?

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It depends on the proposal. Our intent is to explain decisions a bit more, these links may be helpful examples:

  1. DFINITY Foundation's vote on Governance proposal #52151 (ICDevs.org as named neuron)

  2. DFINITY Foundation's vote on Governance proposal #52133 (CBD Neuron)

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I dont find anything interesting to see neurons over 1mil icps to gain 440 icps daily while some cannot afford to buy 5 icps on exchanges

Haha these guys have put in many years of efforts into the Internet Computer, so they deserve all that they get. Without them, there won’t even be ICP tokens on the exchange for the poor guy to wish to buy.

I like this statement. I couldnt find anywhere else a better one to admitts that eventually icp is a closed lobby. Centralization in other words

This is essentially how every Crypto with staking mechanism work. The guy staking 1 mill eth will have more than ETH daily than someone with 10. Does that mean distribution is centralized? Maybe but this is the only way a free system is going to work. I don’t get your complaint at all. It’s like me complaining the mining far makes more money from BTC inflation than me with 1 ASIC.

No complaints. Just simple notifications of how easily some of them spends hundrends of icps to nft projects.
Tokens created from nothing with 0 value and distributed to few there is only one way to gain value, promotion. The best sector to do that is nfts. So spending 0 money, you can have any nft and give value to your icps by exchanging it with icps which were bought by real money. Not so fair, not so democratic and no so decentralized

Good to see this, hope the team could provide more info regarding the token as well as how the team is planning to do using the tokens.

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Update, Dfinity voting power is now on the dashboard: Internet Computer Network Status

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This is the Biggest Change That Nobody Is Talking About.

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